{"id":18262,"date":"2024-11-01T16:18:50","date_gmt":"2024-11-01T14:18:50","guid":{"rendered":"https:\/\/forklog.com\/en\/tethers-net-profit-reaches-7-7-billion-in-2024\/"},"modified":"2024-11-01T16:18:50","modified_gmt":"2024-11-01T14:18:50","slug":"tethers-net-profit-reaches-7-7-billion-in-2024","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tethers-net-profit-reaches-7-7-billion-in-2024\/","title":{"rendered":"Tether&#8217;s Net Profit Reaches $7.7 Billion in 2024"},"content":{"rendered":"<p>In the third quarter, Tether, the issuer of the USDT stablecoin, reported a net profit of $2.5 billion. Since the beginning of the year, this figure has reached $7.7 billion.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Tether Hits $7.7 billion 2024 Nine-Month Profits, $102.5 billion in U.S. Treasury Holdings, Almost $120 billion USD\u20ae Circulation, and an Over $6 billion Reserve Buffer in Q3 2024 Attestation<a href=\"https:\/\/t.co\/7gqXsgIv6F\">https:\/\/t.co\/7gqXsgIv6F<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a href=\"https:\/\/twitter.com\/Tether_to\/status\/1852064983560966308?ref_src=twsrc%5Etfw\">October 31, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the statement, the financial results were confirmed by the auditing firm BDO.<\/p>\n<p>Tether reported that the group&#8217;s equity reached $14.7 billion, with consolidated assets hitting a historic high of $134.4 billion.<\/p>\n<p>As of September 30, reserves backing USDT amounted to $125.47 billion. Of this total, $102.5 billion was in U.S. Treasury bonds. The company ranks as the 18th largest holder of U.S. government debt, surpassing Germany, Australia, and the UAE, noted Tether CEO Paolo Ardoino.<\/p>\n<p>Another significant portion of the company&#8217;s reserves is in gold. According to the USDT issuer, the rise in precious metal prices in the third quarter alone brought $1.1 billion in &#8220;paper&#8221; profits. In comparison, U.S. bonds provided approximately $1.3 billion.<\/p>\n<p>At the end of the reporting period, the issuance of USDT was approximately 119.4 billion coins, indicating a reserve surplus of about $6 billion.<\/p>\n<p>The allocated capital of the Tether Investments division reached $7.7 billion, including an additional 7,100 BTC acquired during the quarter.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThese strategic investments cover key sectors such as renewable energy, bitcoin mining, artificial intelligence, telecommunications, and education,\u201d the company explained.<\/p>\n<\/blockquote>\n<p>Earlier, the WSJ reported that U.S. authorities are investigating Tether for potential violations of sanctions and anti-money laundering regulations.<\/p>\n<p>Ardoino denied the information. Previously, he stated that the company is doing everything possible to maintain good relations with the American government.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the third quarter, Tether, the issuer of the USDT stablecoin, reported a net profit of $2.5 billion. Since the beginning of the year, this figure has reached $7.7 billion. Tether Hits $7.7 billion 2024 Nine-Month Profits, $102.5 billion in U.S. Treasury Holdings, Almost $120 billion USD\u20ae Circulation, and an Over $6 billion Reserve Buffer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,807,1245],"class_list":["post-18262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-stablecoins","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18262"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18261"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}